Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Friday, January 27, 2012

Reigning The Nifty 27th January 2012

 Daily Chart

A small bodied candle.This could be an indication of upward momentum waning.At stiff resistances like the 200 dema more strength and conviction needs to be shown to get the sideliners to join in.Intraday charts are showing negative divergence on oscillators.
However daily oscillators showing strength having scaled it's peaks made in April 2011 and breaking above the downtrendline from November 2011 highs.The Nifty has closed above it's 200 dema.The 20 and 50 dema continue to move up after giving the golden cross. 
Tighten stops at 5050 instead of booking out on longs.

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Happy Trading !!
Lakshmi Ramachandran

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